person-to-person payment

American  

[pur-suhn-tuh-pur-suhn pay-muhnt] / ˈpɜr sən təˈpɜr sən ˈpeɪ mənt /

noun

Digital Technology.

1. a transfer of funds directly from one person to another over the internet or a mobile phone network, often by means of an app. P2P

---

Etymology

Origin of person-to-person payment

First recorded in 1995–2000

---

Example Sentences

See Examples For:

person-to-person payment

Nearly 18 million Americans were defrauded through scams involving digital wallets and person-to-person payment apps in 2020, according to Javelin Strategy & Research, an industry consultant.

From New York Times ● Mar. 6, 2022

Ultimately, the best person-to-person payment app depends on what you use it for — and how much you care about digital privacy.

From Seattle Times ● Jul. 24, 2021

In Canada and Europe, which have far fewer financial institutions that need to agree on standards, person-to-person payment services emerged with little hassle and have been up and running for several years.

From New York Times ● Feb. 24, 2012

All of these interoperability issues aside, though, the person-to-person payment services still have ease-of-use challenges.

From New York Times ● Feb. 24, 2012

The PayPal person-to-person payment service, however, survived and did eventually move to the Web.

From New York Times ● Feb. 24, 2012

Random Word

Spin the wheel and learn a new word!

---